The latest report by IMARC Group, titled “GCC Industrial Gases Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The GCC industrial gases market size reached US$ 3.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028.
Industrial gases are a class of chemical molecules that include several hydroxyl groups. These gasses include flexible carbohydrates with minimal calories and a flavor and texture that is identical to table sugar. They are frequently used as a sugar substitute in items such as ice cream, yogurt, fruit spreads, candies, chewing gums, and so on. Industrial gases are also utilized in the production of toothpaste, breath mints, mouthwash, throat lozenges, and other similar products.
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GCC Industrial Gases Market Trends and Drivers:
The rising chemical industry drives the GCC industrial gases market, where they are employed in the production of flexible and rigid polyurethane coatings, sealants, foams, elastomers, adhesives, and other products. Large volumes of these gases are used in the oil and gas industry to manage various operations in refineries. Aside from that, the growing use of industrial gas-based foams in the automotive industry for manufacturing seating, headrests, armrests, ventilator headliners, and so on is driving market expansion. Other factors, such as rising levels of urbanization and rising need for construction materials, protective components, exterior panels, housing electronics, and so on, are likely to drive the GCC industrial gases market throughout the forecasted period.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Nitrogen
- Oxygen
- Carbon Dioxide
- Argon
- Hydrogen
- Others
Breakup by Application:
- Manufacturing
- Metallurgy
- Energy
- Chemicals
- Healthcare
- Others
Breakup by Supply Mode:
- Packaged
- Bulk
- On-Site
Breakup by Region:
- Saudi Arabia
- UAE
- Qatar
- Oman
- Kuwait
- Bahrain
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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